Crushing student loan debt — $1.2 trillion in the United States — has been known to contribute to increased financial stress and health risks of employees and decreased productivity in the workplace.
Forty-two percent of millennial employees have student loan debt, and 79% of them believe that their debt will make it more difficult for them to meet their financial goals, according to the 2016 PwC Employee Financial Wellness Survey. The younger generation isn’t the only group with debt. Gen X (26%) and baby boomer (11%) employees have their share of it as well. Financial worries have been a distraction for 50% of workers with student loan debt, versus the 23% without student loan debt whose financial worries have been a distraction.
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